Effective 4/1/2014 the Indiana FAIR Plan will offer the following policies.

· Dwelling Fire Basic (DP-1) policy - Actual Cash Value

· Dwelling Fire Broad (DP-2) policy - Actual Cash Value

· Modified Homeowners (HO-8) policy - Actual Cash Value

· Homeowners Broad (HO-2) Broad Form - Actual Cash Value

2. Who can apply for a Homeowner’s policy?

A homeowners policy form is available only for owner occupied properties. Non-owner occupied applicants can choose between a Dwelling Fire Basic policy (DP-1) or a Dwelling Fire Broad form policy (DP-2).

4. Does the Indiana Plan offer Replacement Cost option under a Homeowners policy?

No- all policies issued by the Indiana FAIR Plan are written on an Actual Cash Value (ACV) basis.

5. What happens if an applicant does not qualify for a Homeowner’s policy?

If an applicant applies for a Homeowners policy but does not meet underwriting criteria, the Indiana FAIR Plan will contact the applicant and their agent and the applicant will have the option to apply for either a Dwelling Fire Basic policy (DP-1) or a Dwelling Fire Broad policy (DP-2) if certain criteria are met. The applicant must submit a written request requesting to proceed with a Dwelling Fire policy.

6. What is the amount of premium deposit to bind or secure coverage?

The Indiana FAIR Plan requires a premium deposit of $250 or the annual premium.

7. Can Earthquake Coverage be added to all Indiana FAIR Plan

policies?

Yes – Earthquake Coverage is available under Dwelling Fire and Homeowner policies.

8. Can Mine Subsidence coverage be added to all Indiana FAIR Plan policies?

No - Mine Subsidence is only available to properties that are located in one of the designated Indiana counties. Your agent will have a list of counties that are eligible for mine subsidence.

You should discuss what type of policy and coverage you need with your agent. Your agent can provide you with a quote that will show the differences in premium for all policy types.

Information on this web site does not constitute a solicitation, imply qualifications or confirm insurability. It is a general summary of the FAIR Plan procedures and the services offered by the FAIR Plan for Indiana residents. It is not part of an insurance policy. Consumers who are interested in a particular product should contact an independent agent. This web site contains links to other sites; Indiana Basic Property Insurance Underwriting Association has no control over the content of linked sites and disclaims responsibility for their content and accuracy. Further, the Indiana FAIR Plan assumes no responsibility for the use of the information provided.